ETRADE Capital Management LLC Purchases 1,409 Shares of Intuit Inc. (NASDAQ:INTU)

ETRADE Capital Management LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 17.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 9,272 shares of the software maker’s stock after buying an additional 1,409 shares during the quarter. ETRADE Capital Management LLC’s holdings in Intuit were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. NEXT Financial Group Inc grew its holdings in shares of Intuit by 3.0% during the 4th quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock worth $346,000 after purchasing an additional 38 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Intuit by 3.9% during the 4th quarter. Savant Capital LLC now owns 1,070 shares of the software maker’s stock worth $280,000 after purchasing an additional 40 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Intuit by 2.1% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,929 shares of the software maker’s stock worth $505,000 after purchasing an additional 40 shares in the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Intuit by 50.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. grew its holdings in shares of Intuit by 18.8% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 278 shares of the software maker’s stock worth $64,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Shares of INTU opened at $290.00 on Friday. Intuit Inc. has a 1 year low of $187.68 and a 1 year high of $306.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market capitalization of $75.67 billion, a price-to-earnings ratio of 46.93, a price-to-earnings-growth ratio of 3.90 and a beta of 1.05. The business has a 50-day moving average of $261.78 and a 200-day moving average of $266.07.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.60 by ($0.11). Intuit had a return on equity of 41.03% and a net margin of 22.89%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business earned $5.55 earnings per share. Intuit’s revenue was down 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit Inc. will post 5.85 EPS for the current year.

INTU has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on Intuit from $345.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research note on Monday, April 13th. Morgan Stanley raised their price objective on Intuit from $277.00 to $290.00 and gave the company an “equal weight” rating in a research note on Friday. KeyCorp raised their price objective on Intuit from $285.00 to $315.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Citigroup raised their price objective on Intuit from $272.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $304.61.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Further Reading: Dividend Achievers

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.